Goodwin Procter’s Consumer Financial Services Enforcement practice today launched Consumer Finance Enforcement Watch, a first-of-its-kind tracking blog to monitor state and federal consumer finance enforcement actions.
The blog provides real-time reporting of publicly available enforcement activity taken against consumer financial service companies in key areas, including:
- mortgage lending and servicing;
- auto lending;
- credit cards;
- student or other unsecured consumer credit;
- consumer credit reporting;
- the offering of deposit products;
- the processing of payments by consumers; and
- the collection of consumer debt.
The blog intends to cover enforcement actions brought by the CFPB, Federal Reserve Board, Office of Comptroller Currency, Federal Deposit Insurance Corporation, Department of Justice, Federal Trade Commission, state attorneys general as well as key state financial services regulators under the enumerated consumer finance laws, including but not limited to, TILA, RESPA, FDCPA, FCRA, FACTA, FHA, ECOA, UDAP, UDAAP, along with state consumer protection laws.
The blog is designed to identify and briefly summarize those new enforcement actions as they happen, and will provide readers access to all original source materials. By giving industry participants and watchers the headline and a high-level summary, the blog enables subscribers to keep abreast of recent activity. The blog also provides links to public enforcement documents, statistics on the volume and nature of enforcement actions, and reports and comments on significant enforcement trends and issues.
The blog will feature content contributions from others in Goodwin’s Consumer Financial Services Litigation, Enforcement and Regulatory groups.